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Balanced Reporting. Trusted Insights.
Tuesday, January 31, 2023
Grocery prices rose 0.2% in December, driven in part by another spike in the cost of eggs and an increase in beef prices that helped offset declines in many other categories.
Analysts say consumers are likely to see relatively high prices in grocery stores and restaurants for some time, due to strong commodity markets and high agricultural input costs that get passed through the food chain.
Supermarket prices rose 0.4% in October, their smallest increase since December 2021, as shoppers actually saw price declines in the meat and dairy cases and other areas of the store.
The White House is no doubt glad to see the Consumer Price Index stay unchanged for July. But there is little good news in the latest data for supermarket prices.
Supermarket prices jumped another 1% in April, led by sharply higher costs for chicken, dairy products and eggs, and are up 10.8% over the past year, according to the latest Consumer Price Index.
President Joe Biden will be in Iowa today for a speech at a POET bioethanol facility, where he is set to announce a lifting of the ban on summertime E15 sales.
Grocery prices rose 1.5% in March and 10% over the last 12 months, the Bureau of Labor Statistics reported Tuesday morning. The 12-month increase is the largest in 31 years.
The price consumers paid for groceries jumped 1.4% in February, helping to drive an overall increase in the Consumer Price Index of 7.9% over the past 12 months, the largest in 40 years, the Bureau of Labor Statistics reported Thursday.
The UN Food and Agriculture Organization is reporting that global food prices hit their highest level on record last month, and that doesn’t account for the full effects of the Ukraine crisis.
Supermarket prices jumped 0.8% in November, pushing the inflation rate for food costs to 6.4% over the past year, the largest increase for a 12-month period since 2008. The White House claims meatpackers bear a lot of the blame.
